Infosys fines director for insider trading

Infosys Limited has said that it has imposed a penalty of Rs. 9.50 lakh on its lead independent director Kiran Mazumdar-Shaw for “inadvertent trade” in the company stock that is violative of insider trading regulations.

Infosys disclosed this in a regulatory filing with the stock exchanges.

The IT major said that it would also notify the regulator, Securities and Exchange Board of India (SEBI), of this “inadvertent trading” by Ms. Mazumdar-Shaw.